Please visit the new site of http://www.prolifewarrior.com/ and join in the fun of throwing cyber punches at those who believe 'fetuses' are not people

Wednesday, September 21, 2011

WHERE'S THE GOLD?

George Offerman

It is said “Those who have the gold make the rules”. However, since the advent of the Federal Reserve in 1913, the rule has evolved, so to speak to “Those who make the rules, have the gold.” Shortly after the Federal Reserve was created, the Fed ended up becoming the ‘custodian’ of the world’s largest hoard of gold to back their FRN’s. Since that time, there has been infrequent audits of the Ft. Knox facility, the last being 1968.

One very astute observer caused quite a stir a few years back when the question was posed “How much does the Federal Reserve pay for their gold, and how do they get it?” this observer answered “$.10 per ounce, because it costs $.025 to print an FRN and 4 FRN’s will get one ounce of gold (Gold was $400 per ounce at that time). It was reported the crowd was very quiet, and then became angry once this thought set in.

Here we have the perfect example of thievery. One has to work extremely hard to obtain the needed FRN’s to purchase gold, when a private organization simply can print the pieces of paper and obtain what they want. On top of that, the Fed has first access to any significant amount of gold placed on the market, by other central banks, the Bank of International Settlements (BIS), International Monetary Fund (IMF) and the World Bank

Gold Anti-Trust Action Committee (GATA) http://www.gata.org/ has been following the movements of Gold for 10 years and has meticulously documented the manipulation of gold prices by the ‘banksters’ and the movement of central bank gold sales. Their information is all found in the public domain, and is extremely difficult to refute. Bill Murphy, the president of GATA posed this question concerning the sales of gold: ‘If the price of gold is not manipulated, then why do central banks announce the sale of gold only when prices are going up?’

Looking at historical records, every time the central bank announces sales of gold, the price generally crashes. Now, if the central banks were out to make a profit, wouldn’t they secretly sell the gold to maximize profits? Could you imagine Warren Buffet making a public statement to the tune of: “I think I’ll sell Berkshire Hathaway’s holdings of Gillette stock, it’s getting too high and I think the price needs to come down. I don’t mind taking a loss”. If you believe that, you were born on Jekyll Island.

Gold is the antithesis of fiat money, and the ‘banksters’ need to keep the price of gold as low as possible. If (and when) inflation gets out of control, the price of gold will reflect this and skyrocket. At that point, it is ‘game over’ for the Federal Reserve and all other central banks that rely on script to fund their misadventures.

Ron Paul (R Texas) has sponsored a bill calling for an audit of the Federal Reserve. Currently he has over 280 co-sponsors for this bill and the momentum is building to find out who and what the Fed gave over 2 trillion dollars to in the last ‘bailout’. However, the intellectual and financial powerhouse known as Barney Frank, chairman of the House Financial Services Committee, is holding the bill in committee, and thus colluding with the ‘banksters’ in their cover up of this crime in progress. Remember, it was Barney Frank who boldly stated in 2005 “Fannie and Freddie are financially sound and make good business decisions”. Wow! And he is in charge of our nation’s financial decisions?

Historically speaking, the last time such a high percentage of gold was ‘unavailable’ to the public was right before the dark ages. GATA estimates that 96% of the gold in bullion form is held by central banks or the mega rich families, with the rest of the world vying for the other 4%. When the paper money system collapses (which it will), we know who will be in the ‘driver’s seat’ when the new rules of banking and finance take place.

The link below is to the Ludwig Von Mises Institute, and Von Mises is considered one of the top economists from the Austrian school of economics. The Austrian school holds that sound money is the basis of all stability in economic situations, and has always advocated for a precious metals based currency. It is good reading, and very educational.

About Me

I was in Catholic Seminary for 4 years, and left in the mid 80's. I have been involved in health care since that time, having worked in psychiatric units, community mental health centers, and ran my own private practice for over 15 years. I have continued with my interst in Biblical studies, especially in the area of prophecy. I also took an interest in finances, initially to help out my married clinents who had financial difficulties.